The financial journalist interviewed the chancellor on his ITV Martin Lewis Money Show and said that the money promised to help Britons tackle the cost of living crisis is “not going to come close”. He pressed the Chancellor to do more to help pensioners and vulnerable Britons so they don’t have to choose between freezing and eating.
Chancellor Rishi Sunak announced a number of measures today to help people meet the higher cost of living including a £150 rebate on council tax for households in band A to D and a loan for energy bills of £200.
Although these new measures will add up to £350 – £200 of this financial assistance will have to be paid back.
Money Saving Expert founder Martin Lewis said that this would not come close to fixing the cost of living crisis which will cost the average family a lot more.
Mr Lewis said: “There is a massive crunch on the cost of living which for a typical house is going to cost at least £1,000 a year.”
Mr Sunak added: “At the end of last year we cut the Universal Credit taper rate – that again will mean an extra £1,000.”
Martin said it showed that the Government was helping with some of these costs but the individual needs to shoulder the burden.
He added: “There are some people that are at home more that have much higher energy usage – where this is not going to come close to covering it. Are you going to do more?”
Mr Sunak said the Government was doing a lot more including investing money to improve energy efficiency and offering a £150 rebate on council tax.
In addition, local authorities will have a discretionary fund to help anyone who has fallen through the gap.
Poorer households who don’t pay council tax will be offered help through this discretionary fund.
Britons should get in touch with their local council and ask for help.
They may also be eligible for assistance through the Household Support Fund – some councils have been sending low income families of cheques up to £100 to help with the cost of living crisis.